a) With reference to contract law, identify and explain the elements that need to be present to form a valid contract? b) Under what circumstances can an offer come to an end? Discuss using case law.
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- 1) What is a Contract and what are its elements? 2) When is there a VALID OFFER? 3) What is Breach of Contract? 4) Differentiate Void from Voidable Contacts. 5) When is there Undue Influence in a Contract?Conditions precedent Multiple Choice Render a contract frustrated Render a contract void at the option of the injured party Must occur before a contract can be cancelled Must occur before a contract is enforceable Render a contract void immediatelyDescribe Express and implied contracts. What does it mean when a contract is called void and voidable?
- What are assignments of contracts and what rights and obligations do they confer?WHAT IS THE MEANING OF THE OBJECTIVE THEORY OF CONTRACTS AND HOW DOES THE OBJECTIVE THEORY OF CONTRACTS RELATE TO CONTRACTUAL INTENT?Explain the concept of contract law. What are the essential elements of a contract, and what types of contracts are enforceable? What remedies are available for breach of contract, and what steps can a business take to minimize its liability for breach of contract?
- What are the essential elements of a valid contract under business law, and how do they contribute to the enforceability of the contract?You've read about the statute of frauds and how it requires certain agreements to be in writing (remember the acronym MYLEGS). Thinking about all contracts, do you think that all contracts should be in writing? Or do you think this would hinder or slow down transactions? Please discuss your thoughts on these questions while keeping in mind the purpose behind the statute of frauds.Which of the following is true of a severable contract? Multiple Choice It must be enforced or rejected in its entirety. It contains multiple parts that need to be performed collectively. It has both legal and illegal portions in the contract. It needs complete performance by both parties.
- 5. List the six (6) types of contracts that must be in writing.Defined as an unconscious ignorance or forgetfulness of the existence or non existence of a fact,past or present,material to the contract.A. Does a contract have to be in writing? B. List three types of terms in a contract. C. Distinguish terms in a contract from a representation.